Learning objective 1 show how to account for inventory, Financial Accounting

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Learning objective 1 show how to account for inventory

(Learning Objective 1: Show how to account for inventory transactions)Journalize the following assumed transactions for The Soda Pop Company. Show amounts in billions.

a. Cash purchases of inventory, $4.5 billion

b. Sales on account, $18.9 billion

c. Cost of goods sold (perpetual inventory system), $3.9 billion

d. Collections on account, $18.7 billion

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Financial Accounting: Learning objective 1 show how to account for inventory

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Financial Accounting: Learning objective 1 show how to account for inventory

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